Loss making banks' managers to be fired


MANAGERS of loss making state-owned banks will be fired if they will be proven to be the source of the problem, the Treasury Registrar, Dr Oswald Mashindano has said.

Speaking during the inauguration of the TPB Bank, Mwanjelwa Branch here yesterday, the registrar said the government would not hesitate to fire top managers of the banks which will be running in losses.

He said if it happens that the public bank is run by loss, they will not hesitate to seize its operations to avoid customers to lose more of their fund "but if we find out that there is problem with management we will remove them from power immediately,” he noted.

Mashindano said to date there were 54 banks in the country, but only 14 per cent of Tanzanians were using bank services which shows that the market is big and is yet to be reached. "You need to use your effort to reach the people so that they can benefit from the services you provide including loans” he said.

He said winning in the competition market is brought up by professional workers who know how to attend customers of different walks and also the bank should improve its services to attract more customers.

TPB bank Chief Executive Officer, Sabasaba Moshingi said the aim of the bank is bring their service close to the people to improve their services to benefit low income earners in the community.

He said Mbeya residents would benefit from the bank by accessing loans which fulfill the needs of petty traders, entrepreneurs, groups, business people, works and retired workers.

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